The G20 Macroeconomic Agenda
India and the Emerging Economies

The book delineates the possible barriers to India's enhanced involvement in the G20, and in global governance in general.

Parthasarathi Shome (Edited by)

9781107051102, Cambridge University Press

Hardback, published 14 July 2014

316 pages
24 x 16 x 2.2 cm, 0.63 kg

'… the essayists bring a great deal of depth to discussions surrounding issues such as global macroeconomic policy coordination, capital controls, the international monetary system, and the need for global structural reform. The volume is timely; it is precisely at this moment in history when the old economic order of Europe and the US is slowly and grudgingly yielding supremacy to a new order dominated by the BRIC countries … Summing up: highly recommended. Upper-division undergraduates and above.' J. Bhattacharya, Choice

As the premier forum for global economic governance, G20 was successful in warding off the global economic crisis of 2008–09 and preventing it from becoming a full-blown depression. This book assesses the progress of the G20 with a focus on India. It discusses the role India has played in the success of the G20 process and, more importantly, delineates the possible barriers to India's enhanced involvement in the G20, and in global governance in general. As the global economy remains mired in uncertainties - stemming from the Euro crisis, lacklustre economic performance in the United States, and slowing of major emerging economies - this volume fills the need for a collection of analytical research papers from the perspective of emerging economies, and takes stock of the performance of the G20 thus far. It also points towards the unresolved issues and the future course of action in global financial and macroeconomic stance.

Preface
Part I. Introduction: 1. The G20: evolution, functioning, prospects: a concise review Parthasarathi Shome
Part II. Financial Sector Reforms and Regulation: 2. Financial regulation and the G20: options for India Ashima Goyal
3. Financial sector reforms under G20 and the Indian banks Poonam Gupta
Part III. Global Macroeconomic Coordination and Reforming International Financial Institutions: 4. The G20MAP, sustaining global economic growth and global imbalances: India's role in supporting cooperation among global macroeconomic policymakers David Vines
5. Reform of international financial institutions T. N. Srinivasan
6. Capital controls: instruments and effectiveness Parthasarathi Shome, Jyotirmoy Bhattacharya and Shuheb Khan
7. The International Monetary System: mitigating risks from dominance of the dollar and India's stance Renu Kohli
8. The challenges in IMS reforms: an emerging markets' perspective Alok Sheel
9. Chiang Mai Initiative and its relevance for India Sheetal K. Chand
Contributors
Index.

Subject Areas: Political economy [KCP], Development economics & emerging economies [KCM], International economics [KCL], Economic forecasting [KCJ], Economic growth [KCG], Macroeconomics [KCB]